Published: Tuesday, April 30, 2013 at 1:20 p.m.

Last Modified: Tuesday, April 30, 2013 at 1:20 p.m.

The developers angling to build a hotel next to the Wilmington Convention Center want the city to grant another extension while they work on financing.

Next week, Harmony Hospitality is expected to ask the City Council for another 90-day extension, through July 31, according to a city news release.

If the request is granted, it would be Harmony Hospitality's third extension to a development agreement first launched in February 2012.

To some, the request for more time may cast doubt about the Virginia developer's ability to bring a hotel to the property, where the city has been trying to attract a full-service, upscale hotel since 2007.

The convention center opened in 2010.

Yet Brooks Johnson, Harmony's director of development, said Tuesday that they are waiting on paperwork to wind through the federal government. The paperwork is for the Immigrant Investor Program, known as EB-5, which is administered by the U.S. Citizenship and Immigration Services.

The program allows foreign investors a fast track to obtain a green card, which allows non-citizens permanent residency. Congress created the program in 1990 as a way to "stimulate the U.S. economy through job creation and capital investment by foreign investors," according to the USCIS website.

"That's been the only holdup all along," Johnson said. "It's the government."

He added that he expects this will be the final request for additional time.

"I'm quite certain of that," Johnson said.

Mayor Bill Saffo said he understood the EB-5 financing delay was fueling the extension request.

"It's a concern, but I also understand why they're asking for it," Saffo said. "That's a very important aspect of the financial package." The mayor said the EB-5 financing could lead to $9 million from private investors.

Although the delay concerns him, Saffo said he would likely support the extension as he feels Harmony is ccommitted to building the hotel and has demonstrated that by spending money.

"I would also be interesting in seeing if they have a backup plan if we can't get the EB-5 approved in time," the mayor said.

The city's negotiations with Harmony were initially set to expire in September 2012, but the council voted in August to extend the negotiation period to Jan. 31. In January, the council voted to extend the agreement to April 30.

In March, Hilton Hotels signed off on Harmony's application to build a $33.6 million, 186-room Embassy Suites on the site, sandwiched between the convention center, the Cape Fear River and the Wilmington Chamber of Commerce. The 163,000-square foot hotel would also include a full-service restaurant on its second floor and 6,600 square feet of meeting space.

In addition to completing the project's financing, Harmony would also need to buy the property from the city.

<p>The developers angling to build a hotel next to the <a href="http://www.starnewsonline.com/section/topic20"><b>Wilmington Convention Center</b></a> want the city to grant another extension while they work on financing. </p><p>Next week, Harmony Hospitality is expected to ask the City Council for another 90-day extension, through July 31, according to a city news release.</p><p>If the request is granted, it would be Harmony Hospitality's third extension to a development agreement first launched in February 2012.</p><p>To some, the request for more time may cast doubt about the Virginia developer's ability to bring a hotel to the property, where the city has been trying to attract a full-service, upscale hotel since 2007.</p><p>The convention center opened in 2010.</p><p>Yet Brooks Johnson, Harmony's director of development, said Tuesday that they are waiting on paperwork to wind through the federal government. The paperwork is for the Immigrant Investor Program, known as EB-5, which is administered by the U.S. Citizenship and Immigration Services.</p><p>The program allows foreign investors a fast track to obtain a green card, which allows non-citizens permanent residency. Congress created the program in 1990 as a way to "stimulate the U.S. economy through job creation and capital investment by foreign investors," according to the USCIS website.</p><p>"That's been the only holdup all along," Johnson said. "It's the government."</p><p>He added that he expects this will be the final request for additional time.</p><p>"I'm quite certain of that," Johnson said. </p><p>Mayor <a href="http://www.starnewsonline.com/section/topic72"><b>Bill Saffo</b></a> said he understood the EB-5 financing delay was fueling the extension request. </p><p>"It's a concern, but I also understand why they're asking for it," Saffo said. "That's a very important aspect of the financial package." The mayor said the EB-5 financing could lead to $9 million from private investors. </p><p>Although the delay concerns him, Saffo said he would likely support the extension as he feels Harmony is ccommitted to building the hotel and has demonstrated that by spending money.</p><p>"I would also be interesting in seeing if they have a backup plan if we can't get the EB-5 approved in time," the mayor said. </p><p>The city's negotiations with Harmony were initially set to expire in September 2012, but the council voted in August to extend the negotiation period to Jan. 31. In January, the council voted to extend the agreement to April 30.</p><p>In March, Hilton Hotels signed off on Harmony's application to build a $33.6 million, 186-room Embassy Suites on the site, sandwiched between the convention center, the <a href="http://www.starnewsonline.com/section/topic91"><b>Cape Fear River</b></a> and the Wilmington Chamber of Commerce. The 163,000-square foot hotel would also include a full-service restaurant on its second floor and 6,600 square feet of meeting space.</p><p>In addition to completing the project's financing, Harmony would also need to buy the property from the city. </p><p><i></p><p>Julian March: 343-2099</p><p>On <a href="http://www.starnewsonline.com/section/news41"><b>Twitter</b></a>: @julian_march</i></p>